Developer buys downtown St. Petersburg hotel
By Emma Behrmann
Tampa Bay Business Journal
Published: Mar 23, 2026

A prominent condominium developer in St. Petersburg has officially closed on an aging downtown hotel.

The Kolter Group has closed on the Hilton St. Petersburg Bayfront, which sold for $67.2 million, according to a deed recorded Friday. Last month, a regulatory filing from the hotel's former owner, Dallas-based Ashford Hospitality Trust Inc., said Kolter would pay $96 million in cash for the property. Recorded prices of hotel properties often do not reflect the total transaction, which includes furniture, fixtures and equipment.

TO READ MORE CLICK HERE TAMPA BAY BUSINESS JOURNAL